US Dollar Daily (20.07.2014) Technical Analysis Training

The USDollar follows a short term support line (green) last three weeks. This support line is under the KUMO, which means that USD is weakly bullish . The weekly diagram shows neutral trend and the monthly bearish .

The first thing I see in diagram is that USD has not breached the top side of the ascending triangle yet. Last three days it failed to stabilize the value above 10429, that is the 0.618 of Fib. MACD is bullish and RSI has reach 50 (neutral).

We have no special candlestick pattern (except of these three last reversal hammers). The price is under the KUMO, the Kijun Sen (blue line) but above the Tenkan Sen (green line). It seems that Kijun Sen was very strong resistance last week.

There is no special pattern except the ascending triangle . The fib from 10526 to 10368 shows the targets.

In this point MACD and Ascending Triangle says buy but Kijun Sen says Sell. I say that if the index is positive on Monday follow the support line towards to KUMO and see if it will get above the cloud. Otherwise If it breaks the support line short for 10406 first and 10368 secondly.